Who knew the economic recovery would last as long as it has? Such performance is nearly unprecedented, and has produced a lot of breath holding in the past few years. While prospects for real estate performance continue to be pretty good, a reduction in the pace of industry growth is likely to deter exhalation for the foreseeable future. But maybe that’ll be good for everybody’s lung capacity—not to mention wallets.

While caution is merited—and indeed, the pace of deals has slowed—the real estate market is hardly likely to stall, even with the slow advancement of interest rates. There is plenty of capital on the sidelines, waiting for sellers to release their properties. Lenders are likewise ready to provide financing, albeit at a reduced loan-to-value. And developers that can find affordable land in a good location can lease it up, particularly if they are marketing multifamily or industrial space.

“As the market has settled into a more stable rate environment, we have seen a marked increase in both acquisition financing and refinancings. The past few months have felt like 2017 again,” observed Jeff Burns, managing director at Walker & Dunlop, when interviewed for our Lenders’ Roundtable, which starts on page 18 and includes further thoughts from Burns and fellow financiers about the “roller-coaster ride with the yo-yo movements in interest rates,” as Josh Simon, managing director with HFF, described it.

Our Mid-Year Update offers additional data, insights and analysis beneficial for dealmakers, from the Forecast beginning on page 4 to the extensive section of Yardi Matrix research starting on page 40. The Forecast evaluates the amount of runway left in the cycle, both for the industry overall and by property sector. The research section provides detail at the metro level in both the office and multifamily sectors, along with an update on national self-storage performance. We also take a look at the healthy net lease investment market, and our Mission: Success examines the rise of health-care real estate executive Eric Mendelsohn.

But the Mid-Year Update is not only about dealmaking. Increasing property value and retaining tenants requires solid operations—achieved by the leading firms that comprise our annual ranking of the Top Property Management Firms. This year’s ranking is split, with separate lists for multifamily and commercial properties.

You can also learn about some emerging energy storage alternatives in “Switched-On Solutions.” Developers and architects can find inspiration in an array of case studies discussing the design of some interesting multifamily, office and mixed-use properties. And be sure to read up on the first 20 winners of Realcomm’s Lifetime Achievement Awards.

As the economic cycle continues, we invite you to benefit from the content in this Mid-Year Update. And don’t forget to breathe.